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The Evolution and Impact of Financial Markets
This chapter examines the historical and economic factors influencing the expansion of financial markets post-1970s, particularly following the Bretton Woods collapse. It discusses the complexities of decentralized currency systems and their implications for monetary policy, culminating in the 1980s S&L crisis and drawing parallels to modern financial vulnerabilities. Additionally, the chapter highlights the interplay between deregulation, risk-taking behaviors in banking, and the necessity for effective regulatory responses to maintain market stability.